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(Reuters) - A strong earthquake off the coast of Guatemala killed at least 48 people and trapped others under rubble on Wednesday, crushing homes and cars, destroying roads and forcing evacuations as far away as Mexico City.

Most of the dead were buried under debris in San Marcos state, a mountainous region near the Mexican border. Landslides triggered by the 7.4 magnitude quake blocked highways and complicated rescue efforts

Not "news" persay .. but just thought I'd chime in for all our friends living in the U.S. and freaking out about the economy. This is all anecdotal but speaking with my friends that monitor real estate in the U.S. and another private investor buying up property..

Looks like there are big moves up in values in Dallas and Orlando right now. Participating in recent short-sale auctions are seeing purchases above asking. I've also heard that certain PE shops are hitting up Fannie/Freddie and banks to buy buckets of properties wholesale. Current interest rates, stricter lending standards and rental rates are producing a "positive carry" on single family properties in urban/suburban centres.

This isn't the first time something like this has happened, but it's awful nonetheless.. For non-Commonwealth members here, a "poppy" is a little red fake flower pin you buy via donation to wear leading up to and on "Remembrance Day" (Veteran's Day in the U.S.) to commemorate veterans that died in WWI (and now other wars). All the donations go to the Royal Canadian Legion, a veteran's organization ..

(Reuters) - Talks on the European Union's 2013 budget collapsed in acrimony on Friday, denting hopes of a swift deal later this month on the bigger issue of the bloc's long-term spending for 2014-2020.

(Reuters) - Talks on the European Union's 2013 budget collapsed in acrimony on Friday, denting hopes of a swift deal later this month on the bigger issue of the bloc's long-term spending for 2014-2020.

it doesn't run a military
it doesn't run a policy force
it doesn't run a welfare system

what does the EU run that needs a trillion dollars?

Subsidies, mostly for research (developpingstealing time traveling microwaves ovens or creating black holes that will destroy the world cost CERN a lot of money) agriculture, and Eastern Europa. (rich western countries receive far less money in subsidies than what they paid for while it's obviously the opposite in the East)

Edit : Plus many cooperation programs, like the aforementioned Erasmus

it doesn't run a military
it doesn't run a policy force
it doesn't run a welfare system

what does the EU run that needs a trillion dollars?

They fund a lot of projects. (for example, most of Ireland's motorways were built with EU funding). A lot of valuable things have gotten funded over the years.

The really big ticket item, however is the Common Agricultural Policy, which takes half of the EU's annual budget (abut 50 billion euros), and basically a variety of farm subsidies. Generally, I think it should be scrapped. Fortunately the EU seems to be reducing it's budget.

However, there have been a lot of irregular expenses over the last 5 years, namely all the bailouts, which is what is really causing all the budget disputes. Subsidising Agriculture is cheap compared to bailing out Spain's banking system (and Ireland, Portugal, Greece... with Italy on the horizon!)

Of all the major europeans countries, we are the one relying most on agriculture. (1.8% of GDP while Germany and the UK (biggest opponent to the CAP) are at 0.8% or below.

Plus some countries are just pissed France and Spain are the biggest beneficiary of one of biggest european subsidy. (I am looking at you UK) but it is because it's the biggest agricultural power and the subsidies are proportionate to the production level.

Western countries tolerate the fact overall money redistribution favor the East, but don't like it when it clearly favors a western power (unless they are that power, of course). That said, without the PAC, most of the small farmers would disappear and the EU would probably prevent France to subside them because it would be unfair to the farmers of other countries.